Asian Metals Market Update for 16th November 2023

By: Admin
84178

The next thirty days. Big Time. Big Moves.

Precious metals, base metals and forex markets have a big thirty days ahead. HOW?

16th November to 28th November: There are no major US economic data release. (it will be a technical trade in all asset class in this period.)

29th November to 15th December: PCE numbers for October, November jobs, ISM manufacturing, and ISM Non-Manufacturing for November, CPI and PPI for November, and FOMC.

All these numbers if they come in on the lower side of expectation will increase bets for an early interest rate cut. The multiplier effect could a crash in US dollar index, sell off in bond yields. Precious metals and base metals starting another wave of rise.

But a higher number or an indication of a recession ( as opposed to the current view of a soft landing) will cause sell off in base metals, stocks and crude oil. Bonds and US dollar Index will be very volatile.

How do we trade and invest in the next thirty days?

Day traders: Buy or sell only on intraday technical breakout and technical breakdown. Use trailing stop loss. Do not roll over open position to next trading just because it was a loss.

Short term traders; Use trailing stop loss on your buying positions in gold, silver, copper and base metals. Use any significant rise to close long positions in crude oil.

Investors with investing period of twelve month and over: Use significant crash in gold, silver and copper to increase investment.

US November jobs, November unemployment number is the key.

READ FULL VIEW AT WWW.GOLDSEEK.COM IN THE LINK BELOW

https://goldseek.com/article/asian-metals-market-update-16th-november-2023